Stanbic IBTC Holdings PLC, a member of Standard Bank Group, is awarding university scholarships to 200 Nigerian undergraduates who excelled in the 2022 University Tertiary Matriculation Examination (UTME) and met other prerequisite conditions.
The scholarship, valued at N80,000,000, and expected to provide financial support to the beneficiaries, will be disbursed in annual instalments over four academic years.
Speaking at a virtual award ceremony, the Chief Executive of Stanbic IBTC Holdings, Dr. Demola Sogunle, explained that the scholarship award would provide recipients with the essential financial assistance required to meet their educational expenses.
Subsequent disbursements, he noted, will be contingent upon the beneficiaries fulfilling certain criteria.
According to him, Stanbic IBTC recognises the importance of education and its role in shaping the future of Nigeria, adding that its principal objective for the scholarship is to provide unlimited opportunities for bright, young Nigerians who have demonstrated academic merit.
He noted that the number of annual scholarship recipients was increased from 100 to 200, as education should not be a luxury reserved for a select few but accessible to all.
Sogunle stated that the scholarship selection process was rigorous and fair, with beneficiaries chosen from each of the six geo-political zones in Nigeria.
“The candidates were carefully evaluated based on merit, taking into account their exceptional academic performance. By investing in the academic journeys of these exceptional students, the leading end-to-end financial institution will not only make a difference in their lives but also contribute to the development and prosperity of the nation as a whole.